Tactile Systems Technology (NASDAQ:TCMD) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tactile Systems Technology (NASDAQ:TCMD) from a buy rating to a strong-buy rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on TCMD. Weiss Ratings raised Tactile Systems Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 14th. BTIG Research decreased their price target on Tactile Systems Technology from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.40.

Tactile Systems Technology Stock Down 0.7%

NASDAQ:TCMD opened at $22.73 on Friday. Tactile Systems Technology has a 52 week low of $13.48 and a 52 week high of $37.77. The firm has a 50 day moving average of $24.72 and a 200 day moving average of $25.70. The stock has a market capitalization of $514.83 million, a price-to-earnings ratio of 21.05 and a beta of 0.80.

Tactile Systems Technology (NASDAQ:TCMD) last announced its earnings results on Monday, August 10th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.20. The company had revenue of $85.70 million during the quarter, compared to the consensus estimate of $85.52 million. Tactile Systems Technology had a net margin of 7.10% and a return on equity of 11.49%. As a group, analysts expect that Tactile Systems Technology will post 1.1 EPS for the current year.

Insider Activity

In other news, CEO Sheri Dodd sold 10,978 shares of Tactile Systems Technology stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.44, for a total transaction of $323,192.32. Following the completion of the sale, the chief executive officer directly owned 232,907 shares in the company, valued at approximately $6,856,782.08. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Tactile Systems Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Tactile Systems Technology during the 1st quarter worth about $71,000. Summit Securities Group LLC acquired a new position in shares of Tactile Systems Technology in the first quarter valued at about $75,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tactile Systems Technology in the fourth quarter valued at about $91,000. Versant Capital Management Inc raised its stake in shares of Tactile Systems Technology by 36.4% in the second quarter. Versant Capital Management Inc now owns 3,285 shares of the company’s stock worth $98,000 after purchasing an additional 876 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Tactile Systems Technology during the second quarter worth about $101,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Tactile Systems Technology Company Profile

Tactile Systems Technology, Inc, doing business as Tactile Medical, develops and provides medical devices designed to help manage chronic conditions involving the circulatory and lymphatic systems. The company focuses primarily on home-based therapy for lymphedema, chronic venous insufficiency and related conditions.

Its portfolio includes pneumatic compression systems such as the Flexitouch Plus system for lymphedema and the Entre Plus system for treating lymphedema and chronic venous insufficiency.